The host of the Coin Bureau YouTube channel, Man Turner, is expressing bullish sentiment on one Ethereum (ETH) competitor.
Turner tells the two.47 million subscribers of the Coin Bureau channel that the layer-1 blockchain Fantom (FTM) possesses extra upside potential primarily based on technical evaluation.
“The weekly chart seems to be portray a wonky head and shoulders sample that appears eerily much like the topping sample FTM noticed in late 2021. Notably, this sample implies that there could possibly be yet one more leg increased.”
Based on Turner, Fantom might go up by roughly 98%, nearing double its present worth.
“Zooming out on the weekly chart means that FTM might rally as excessive as $1.60 within the quick to medium time period the place it is going to seemingly stall out resulting from resistance, often known as bag holders, from the earlier bull market. After that, it’s anybody’s guess.”
Fantom is buying and selling at $0.810 at time of writing.
On the explanations supporting his bullish thesis for Fantom, the Coin Bureau host says,
“FTM has some stable ‘pump-a-mentals,’ so to talk. It has a low price ticket and a market cap that isn’t so giant as to ban an epic pump.
The truth that FTM’s provide has already vested to traders and the group suggests there will probably be minimal promote stress from their aspect, notably once you issue within the Fantom Basis’s apparently monumental runway…
The one factor that FTM is lacking is a story that retail traders can perceive. And extra retail accessibility. Particularly, FTM will not be at present listed on Coinbase although it’s attainable this might change if laws within the US change.”
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Examine Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl aren’t funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses you could incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please observe that The Every day Hodl participates in affiliate internet marketing.
Generated Picture: DALLE3
